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Australia s Fortescue Metals Group shipped the same volume in calendar Q1 as it did a year ago, while BHP s exports were the weakest for two years and Rio Tinto s were the lowest in a year.
Brazilian Vale s iron ore and pellet exports fell 25 million mt in calendar Q1 from the December quarter due to operational issues and maintenance at its S11D mine, according to company reports.
S&P Global Platts Analytics trade flow software cFlow shows that shipments from the four majors, plus Australia s Roy Hill and Saldanha port in South Africa, totaled 273.3 million mt in Q1. This was around 40 million mt lower than in Q4 2020, with Vale responsible for half of the lost volume.
China’s steel industry is blaming the concentrated ownership of Australia’s iron ore mines for the soaring ore price and is calling for Chinese government intervention.
‘We believe that the supply side is highly concentrated and the market mechanism is not working, so we call for the authorities to play a bigger role in the event of market failure,’ Luo Tiejun, vice president of the China Iron and Steel Association, told an industry conference last week.
The reality is that the market is working well and that the Chinese authorities have much less power to influence it than Luo might imagine.
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Sputnik International
EnergyIndonesia says Fortescue, China s Tsingshan in talks for Borneo investment
Reuters
3 minutes read
Indonesia s Chief Security Minister Luhut Pandjaitan speaks during a morning briefing with journalists at his office in Jakarta, Indonesia July 20, 2016. REUTERS/Darren Whiteside/File Photo
Indonesia is in talks with China s Tsingshan Holding Group and Australia s Fortescue Metals Group (FMG.AX) to build a new industrial estate for metal smelting near a planned hydropower plant on Borneo island, a minister said on Tuesday.
The new estate will be located near the 11,000 megawatt Kayan hydropower project in North Kalimantan province, according to Luhut Pandjaitan, Indonesia s coordinating minister for maritime affairs and investment, who also oversees mining regulations.
Can Japan Be Both Carbon-Free and Nuclear-Free?
Japan can – and should – pursue an energy mix that is both carbon-neutral and avoids reliance on nuclear energy.
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April 07, 2021
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Japanese Prime Minister Suga Yoshihide, scheduled to have summit talks with U.S. President Joe Biden on April 16, has been pursuing a carbon-neutral society. On October 26, 2020, Suga delivered a policy speech to the Japanese parliament and declared that “by 2050 Japan will aim to reduce greenhouse gas emissions to net-zero.” Internationally, the Paris Agreement entered in to effect in 2016, and Japan as a signatory to the treaty is obliged to reduce greenhouse gas emissions to limit global warming.